Colorado-Real-Estate-Journal_461157

Page 24 - May 21-June 3, 2025 www.crej.com Mixed-Use by Avalon Jacka DENVER – A local real estate development and investment company broke ground on a new mixed-use development with 295 multifamily units in the Golden Triangle neighborhood. Trailbreak Partners began con- struction on Kaia Residences, located at 808 N. Lincoln St., in April. Inspired by its name, which means “pure” and “life” in sev- eral languages, the project aims to prioritize resident wellness. Hord Coplan Macht is serving as architect for the project, and Arco/ Murray is the general contractor. Delivery is anticipated in third- quarter 2027. “Denver’s continued growth underscores the urgent need for well-located, thoughtfully designed housing, especially in our downtown neighborhoods where future supply is con- strained,” said Doug Elenowitz, Trailbreak Partners co-founder and principal. “Kaia reflects our long-term strategy of investing in well-located, highly amenitized projects that deliver both density and affordability. We are proud to make a significant investment in the future of downtown Den- ver and are grateful to our project partners and the city of Denver for helping us mark this exciting step forward.” The groundbreaking was cel- ebrated by numerous project supporters, including Trailbreak Senior Vice President of Acqui- sitions Brett Silverstein, Chief FinancialOfficer NickMartin, Vice President of Asset Management Ryan Pakieser, Development Associate Logan Pierson, princi- pal Jordan Scharg, and co-found- er and principal Doug Elenowitz; Denver Community Planning and Development Executive Direc- tor Manish Kumar; and Denver Councilman Chris Hinds. Kaia Residences is the first mul- tifamily project to be financed and break ground in the area in the past 14-15 months, according to an analysis by Trailbreak Part- ners. The project is expected to cost $160 million. Trailbreak Part- ners received a total of $111.45 million in loans from Bank OZK and Affinius Capital and $48.55 million in capital raised through equity fundraising, according to previous reporting. The464,887-square-foot,18-story tower will include 295 units, 19 of which will be affordable, with a mix of studios, and one-, two- and three-bedroomunits. “In (my) campaigns, I talked about three things: housing, trans- portation and representation ... and Kaia touches all three,” said Hinds at the event. “The number one thing I keep hearing time and again from District 10 residents is about affordability, specifically housing affordability. Having a number of affordable units (at Kaia) addresses that, especially as we have a lot of demand in our city and don't have enough sup- ply. It also addresses transporta- tion close to the center city, along a major arterial where more than a third of households in Capitol Hill don't own cars at all – with proximity to downtown, jobs, and grocery stores.” Community amenities will include 8,500 sf of street-level retail; 290 dedicated parking spac- es; a state-of-the-art fitness cen- ter; a Nordic-inspired spa with a cold plunge and sauna with massage and acupuncture servic- es; an infinity pool; a two-story rooftop lounge with panoramic city and mountain views; and a 4,000-sf wellness market. The site is positioned near many of Den- ver’s cultural and lifestyle destina- tions, including the Denver Art and Clyfford Still museums, Civic Center Park, and local cafes, res- taurants and shops along Lincoln Street and Broadway. “Today’s renters are looking for more than just a place to live. They want convenience, community, and a sense of well-being. Kaia meets that need with wellness- focused amenities, ground-floor retail, and a location walkable to daily essentials,” said Dave Bacon, Trailbreak Partners vice president of development. “The availability of three-bedroomunits at Kaia will also be particularly attractive, as options for families, particularly in downtown, are in low supply across the city.” Denver-based Trailbreak Part- ners has completed or is under- way onmore than $1 billion in real estate projects in Colorado and the Mountain West. Its portfolio features assets across a variety of types, including mixed-use, mul- tifamily, retail, residential, indus- trial, land and hospitality. s Trailbreak Partners begins construction on Kaia Residences KEVIN BRAY Director of Development SID SQUIRRELL CCIM, Broker Associate BRAYCOMMERCIAL.COM | 970.241.2909 |1015 N 7TH ST, GRAND JUNCTION BRIAN BRAY Managing Broker JESSE CALHOON Commercial Property Manager KATIE DAVIS Broker Associate LORI LONG Broker Associate DERRICK SNIDER Broker Associate LOCAL EXPERTISE, GLOBAL CONNECTIONS. FOR COMMERCIAL REAL ESTATE ON THE WESTERN SLOPE #1 ANDREA HAITZ Broker Associate Kaia Residences will feature a number of wellness-oriented amenities, including a two-story rooftop lounge with panoramic city and mountain views, a Nordic-inspired spa with a cold plunge and sauna with massage and acupuncture services, and a 4,000-square-foot wellness market. The project’s groundbreaking in April was celebrated by Trailbreak Partners team members and other project partners, including (left to right) Trailbreak Senior Vice President of Acquisitions Brett Silverstein, Chief Financial Officer Nick Martin, Vice President of Asset Management Ryan Pakieser, Development Associate Logan Pierson, principal Jordan Scharg, and co-founder and principal Doug Elenowitz; Denver Community Planning and Development Executive Director Manish Kumar; and Denver Councilman Chris Hinds.